National Bank of Egypt, the leading bank in Egypt, and Jumia, the leading e-commerce platform in Egypt and Africa, announced the launch of JumiaPay ِEgypt as payment service provider.  As a digital payment and fintech platform, JumiaPay facilitates online payments and the distribution of a broad range of digital and financial services.

JumiaPay will act as a payment services provider offering payment facilitation (PayFac) for merchants, and as a payment processor allowing merchants to process payments outside Jumia’s main platform. It is worth mentioning that launching the platform, starting with Egypt, will help us explore if the platform is profitable, user friendly and in line with both Egypt’s policy framework and that of our customers. 

Tawfik Mahmoud, Managing Director of JumiaPay Egypt emphasized that via JumiaPay Business, “merchants can properly manage the acceptance of digital payments through a single central digital platform instead of undergoing long and overpriced processes with direct integration for their different local and international payment methods. Referring to our strategic partnership with Zbooni as a payment solutions provider enables us to penetrate and support the SMEs sector and allow us to contribute to facilitating e-commerce and financial services transactions in Egypt by providing convenient, secure and easy-to-use payment solutions. We just did our first off-platform transaction, we're currently in the beta phase and the integration of some merchants, after which we will be ready to expand as the number of JumiaPay transactions increased by one third to 3 million in the third quarter of the 2021 year, representing approximately 36% of the platform orders for the group level.” 

Eng. Hesham Safwat, CEO of Jumia Egypt, explained that “This milestone comes after the successes achieved by Jumia in the field of digital payments and is in line with the overall direction of the Egyptian state to transform into a cashless society and the move towards financial inclusion in Egypt. Jumia believes in the necessity of providing all the necessary means for customers to accelerate the digital transformation system.”

Mohamed Jamil, Head of Alternative Channels and Retail at National Bank of Egypt, stated that “We are proud of our partnership with Jumia which targets a large number of customers through its pioneering services and we are looking forward through this partnership to provide new services via JumiaPay.”